Jared Kushner Closed on Five Properties, Plans to Convert Them Into a Tech Hub

For four years, a cluster of properties near the foot of the Manhattan and Brooklyn bridges in Brooklyn has been the subject of debate about the neighborhood's future: Should it be a burgeoning commercial district or a luxury residential area?

A partnership including Jared Kushner, a 32-year-old real estate developer and technology investor, closed on Wednesday on five of six properties in a $375 million deal and he said they plan to convert them into a hub for technology companies. The Watchtower properties are being...